but i also like his new busniness model - i like the coins (better than paper)
Topic: [2014-01-15] Casascius is back with a different business model after warning (Read 579 times)
January 15, 2014, 04:32:23 PM
you are right.
but i also like his new busniness model - i like the coins (better than paper)
but i also like his new busniness model - i like the coins (better than paper)
January 15, 2014, 02:03:51 PM
Awesome
The fact that FinCEN sent him a warning in the first place shows that they either don't understand bitcoin, don't understand what Mike is doing, are over stepping their boundaries, or likely a combination of all three. If what Mike was/ is doing is money transmission, then everybody who sends bitcoin to another person and then receives bitcoin back from that person would be engaging in money transmission.
Let's say you pay somebody $1.50 USD for a collector's quarter that has a legal tender value of $.25. Does that make the seller a money transmitter? It's the exact same thing.
The fact that FinCEN sent him a warning in the first place shows that they either don't understand bitcoin, don't understand what Mike is doing, are over stepping their boundaries, or likely a combination of all three. If what Mike was/ is doing is money transmission, then everybody who sends bitcoin to another person and then receives bitcoin back from that person would be engaging in money transmission.
Let's say you pay somebody $1.50 USD for a collector's quarter that has a legal tender value of $.25. Does that make the seller a money transmitter? It's the exact same thing.
January 15, 2014, 11:10:54 AM
Casascius is back with a different business model after FinCen’s warning
http://bitcoinexaminer.org/casascius-is-back-with-a-different-business-model-after-fincens-warning/
he´s back
http://bitcoinexaminer.org/casascius-is-back-with-a-different-business-model-after-fincens-warning/
he´s back
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